Everyone is trying to determine what competitors are charging for their products through competitive benchmarking but will that really help you make a bigger profit? Maybe, but the real gold is in your existing purchase parts. Use the data you already have in house and compare purchased part costs that your company has incurred over the past two years. This data will allow you to truly increase your profit regardless of competitor pricing. Price benchmarking looks outward but for optimal profit you must first look inward.Read More
As Steven Covey noted in 7 Habits of Highly effective people you should begin with the end in mind. When starting a direct materials data cleansing project, you need to ask yourself, what is the goal of improving the direct materials data? Cost savings? Sourcing efficiency? Improved insight through reporting and analysis? To answer these questions and achieve success, engineering and procurement need to work together to obtain the answers. First you need to know what are the overall company goals? From there all the following questions can be answered.Read More
It may seem like a scary proposition to send your data outside your organization to be improved. Who do you send it too, what do you provide them, how much is it going to cost, how do you know if the data is correct, how can you make it successful. At Convergence Data we have learned to bridge this gap between outsourced data cleansing operations and US based companies – to make it a successful experience. There are some basic practices to follow that we have learned we can share.Read More
PLM World: Orlando, Florida May 16 - 19th 2016
We are excited to be presenting a case study at PLM World about effectively migrating data to Teamcenter classification. I hope to see you there! The Convergence Data Services (CDS) Team will be available in the solutions center for any follow up questions near booth 321 throughout the conference. If you are unable to attend PLM World this year and would like to see the presentation, please contact CDS and we can arrange a meeting to review this case study with you.
When your company is under pressure to deliver new products, internal data can help you identify trends and make good decisions. Two of the most important data sets to review are your sales analytics and spend analytics.
But why exactly are analytics so important?